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Feb 05 - 02:55 PM

USD: Tactically Constructive In The Near Term - Credit Agricole

By eFXdata  —  Feb 05 - 01:45 PM

Credit Agricole CIB Research maintains a tactical bullish bias on the USD in the near-term.

"In the interim, we believe that the level of UST yields and the resilience of risk sentiment would remain the key determinants of the FX price action. We further believe that the markets could flip from being risk-on to risk-off depending on the overall level of tightness of the US financial conditions," CACIB notes. 

"While we doubt that we are on the verge of a fresh multi-month USD uptrend, there are some reasons to expect that the USD and risk appetite could continue to recover in tandem for the time being," CACIB adds. 

 

Source:
Crédit Agricole Research/Market Commentary

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